While the Texas Legislature managed to pass a long sought bill, HB4409, that addresses funding for the state’s insurer of last resort for wind and hail along the Texas coast, lawmakers failed to decide on other legislation impacting the insurance …
Westbrook, Maine-based Acadia Insurance Co. has named Paul Strohfus as its new senior vice president for Claims and Legal Services. Strohfus will oversee the development of claim operations for Acadia, work to maximize government relations efforts and ensure legal matters …
An insurer can’t cite the commonly used earth movement exclusion to deny coverage to an insured whose property was damaged by excavation to a neighboring lot, a New York Appeals Court has ruled. The case pitted the owner of condo …
A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings of “a” of Electric Insurance Group and its members – Electric Insurance Company (Beverly, MA), Electric Insurance Ireland Ltd, (Dublin, Ireland) and Electric Lloyd’s …
A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa” of Allianz S.p.A. (Italy), both with stable outlooks. The ratings reflect the enhancement received from the implicit support of Allianz S.p.A.’s …
The property/casualty insurance industry is employing advancements in catastrophe modeling and considering the impact of the creation of a national catastrophe fund as it applies lessons learned from Hurricane Katrina. Experts on a panel moderated by Louisiana Insurance Commissioner Jim …
New York-based program manager Insight Catastrophe Group has launched a new division that will provide identity theft programs to personal and commercial lines insurance carriers. The new program includes two supplemental covers: a personal lines product designed to protect a …
Nevada Gov. Jim Gibbons has signed a bill that will change the funding structure of the Nevada Division of Insurance and strengthen consumer protections in the area of viatical settlements. The bill, Senate Bill 426, passed May 22 in the …
Demographic changes are impacting the underwriting and pricing of many insurance products and the implications of these changes are creating new challenges and opportunities for property/casualty insurers, according to some industry analysts. Speaking on a panel at the Casualty Actuarial …
Philadelphia-based ACE Westchester said Roger Murphy will spearhead the launch of the company’s new coverage line.for hazardous material and hazardous waste transporters. The coverage includes a capacity up to $5 million for a Combined Single Limit and broadened Pollution Liability, …
